No. Your deposits remain insured. Deposits in a Checking, Savings, Money Market Account or Certificate of Deposit (CD) at Needham Bank will be covered by the FDIC up to the standard limit of $250,000 per depositor, per ownership category.
For most customers, this provides full protection. If your balance exceeds that limit, you may be able to restructure your deposits in separate ownership categories to maximize your FDIC insurance coverage. Please contact your relationship manager or visit your local branch to explore your options.